Solar developer and operator ReneSola announced that it has put into commercial operation the first independent power producer (IPP) project within its Hungarian portfolio, with installed capacity of 10.2 MW.
The Csomad 1-2 project consists of two solar power plants, whose combined electricity generation is enough to cover the tends of some 4,000 households.
Since ReneSola entered the Hungarian market five years ago, the company has commissioned 72 feed-in tariff (FIT) solar power plants with a combined capacity of about 42 MW. According to CEO of ReneSola Power Europe Josef Kastner, Hungary as a market is a critical part of the company’s expansion strategy.
The ReneSola Group CEO Yumin Liu said that the group has successfully developed more than 100 MW of projects to the shovel-ready stage and is actively building half of that portfolio.
Last year, ReneSola said that it has completed the sale of 12.3 MW in solar power plants in Hungary. The sale agreement with Danish renewable energy company Obton was signed in January. It includes a total of 20 solar power plants located in Sarbogard, Komlod, Szajol, Lukacshaza and Torokszentmiklos. The projects all became operational in 2020 and qualify under Hungary’s 25-year feed-in-tariff scheme.
In April 2020, ReneSola sold to Obton 25 solar parks at three different locations, which are under construction, with a total installed capacity of 15 MW. In 2019, Obton already obtained 24 solar power plants from ReneSola, with total installed capacity to 13.9 MW. All these plants operate under Hungary’s 25-year feed-in-tariff scheme.